Comment by ActionHank
1 year ago
It's meant to be a "smart gamble", not "throw money everywhere and see what does well".
Also the funding should come with a clause to cover this sort of behaviour, if they don't correct it now it will happen again.
1 year ago
It's meant to be a "smart gamble", not "throw money everywhere and see what does well".
Also the funding should come with a clause to cover this sort of behaviour, if they don't correct it now it will happen again.
Correct what exactly? Did they release this as their final product as the first milestone?
From what I gleaned the company has barely started and the founder recently(?) quit his job. They raised money on an idea and forked another project, changed the branding, and used it as the base to build a prototype
That doesn't mean this is the end product that YC invested in.
Lots of companies created MVPs this way before using funding and their new runway of time to do it properly.
If they do release it as the end product with little effort that’s basically fraud
> Also the funding should come with a clause to cover this sort of behaviour
Lol if you’re not aware, they came up with the gold standard in simple seed investment contracts used by nearly every pre-series-a startup in existence. Adding clauses like “don’t fork open source code” is just pointless and cumbersome legal bs that does nothing but get in the way.
Less "don't fork opensource code", more "don't bring shame upon the family".
This is bad press for YC as much as it is for this poorly thought-out startup.